MOVES: Juan Pablo del Valle named president of Mexico's Mexichem

MEXICO CITY (ICIS)--Juan Pablo del Valle was named president of Mexican chemical manufacturer Mexichem on Friday, as his father, Antonio del Valle, gained the title of honorary president for life.

In a statement, the 38-year-old Del Valle indicated he would keep the company on course with an eye on the global marketplace. The company has pursued a strategy of vertical integration and product diversification in recent years.

Reporting over a billion dollars in sales in the first quarter, Mexichem has become an industry leader and one of the largest firms in Mexico, becoming the only producer of PVC in the nation and a major international player through key acquisitions such as last year's purchase of INEOS Fluor, Policyd and Plasticos Rex.